Office of Procurement at PAU involves the process of selecting vendors, establishing payment terms, strategic vetting and selection the negotiation of contracts and actual purchasing of goods. Procurement office also concerned with acquiring (procuring) all of the goods, quality assurance, proper storage & distribution, services and work that is vital to an organization. This wing is essentially the overarching or umbrella term within which purchasing of the institution is done.
Process of Procurement:-
The entire Procure-To-Pay Cycle can be an involved process with the following steps:
- Identification of Requirement
- Approval of Purchase Request
- Identification or Selection of Suppliers/Vendor
- CST Preparation
- Note of Approval
- Work order
- Goods receive / Challan
- Stock entry
- Inspection report preparation
- Bill receive
- Note of payment to suppliers